Stock Watch - Stock Pick — Amazon and Aspen
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Gary Booysen from Rand Swiss chose Amazon as his stock pick of the day and Petri Redelinghuys from Herenya Capital chose Aspen Pharmacare
Booysen said: "Mine is Amazon, everyone knows Amazon, it's absolutely fantastic. Amazon Prime now moving from two-day delivery to one-day delivery, it's a very exciting development for the company and if you look at AWS which is Amazon Web Services and their cloud computing, it is just turning into such a cash cow for them and they're constantly being innovative and I think now that Jeff Bezos is no longer richest man in the world he's got a chip on his shoulder and it's your interests that they are looking after."
Redelinghuys said:"I'm going to go with Aspen, I think that obviously there was a huge catalyst which created a big gap, that gap has still needs to be filled, that needs to trade up to R136 in order for that to happen. Looking in the shorter term I see a fairly strong uptrend, we were tracking this as one of the sort of a "game plan of the week" things from Monday and it pulled back today and it got just within almost a few cents of the buying zone, which is the area between R113 and R111. It gets in there, it's on that trend line support, the trend is up, it looks to be dating into the space of the gap so I think target price R136,68 cents"
Booysen said: "Mine is Amazon, everyone knows Amazon, it's absolutely fantastic. Amazon Prime now moving from two-day delivery to one-day delivery, it's a very exciting development for the company and if you look at AWS which is Amazon Web Services and their cloud computing, it is just turning into such a cash cow for them and they're constantly being innovative and I think now that Jeff Bezos is no longer richest man in the world he's got a chip on his shoulder and it's your interests that they are looking after."
Redelinghuys said:"I'm going to go with Aspen, I think that obviously there was a huge catalyst which created a big gap, that gap has still needs to be filled, that needs to trade up to R136 in order for that to happen. Looking in the shorter term I see a fairly strong uptrend, we were tracking this as one of the sort of a "game plan of the week" things from Monday and it pulled back today and it got just within almost a few cents of the buying zone, which is the area between R113 and R111. It gets in there, it's on that trend line support, the trend is up, it looks to be dating into the space of the gap so I think target price R136,68 cents"